California State Auditor Removes Fiscal Accountability Dashboard

Commentary California’s fiscal accountability dashboard for cities, which was implemented in 2019 and identified local governments with financial problems, was taken down last month. Why? First, some background. The County of Orange in Southern California incurred an infamous fiscal calamity in the closing month of 1994 that resulted in nearly $1.7 billion in investment losses. It was so significant, it made international news. A dozen years later, the county was still dealing with the aftereffects, including large annual bond payments resulting from reimbursing agencies that unwisely participated in the investment scheme that caused the fiscal implosion. In 2006, I was elected to serve on the Orange County Board of Supervisors and had the privilege of serving as the chairman during two very tumultuous years, 2008 and 2012....